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July 2017316 Flynn Avenue Breaks Ground in Burlington
Burlington, VT July 13, 2017 – Redstone started construction on a new mixed-use building with 30 apartments above 3,000 SF of ground floor commercial space. The redevelopment will revitalize a site at the gateway to the South End, with modern apartments and neighborhood-scale commercial space. Northfield Savings Bank, Vermont Community Loan Fund, the Vermont Agency of Commerce and Community Development, the federal Environmental Protection Agency, and the Vermont Economic Development Authority are providing financing.
Mayor Miro Weinberger addressed the assembled crowd, "The groundbreaking of 316 Flynn Avenue represents another positive step forward in dealing with one of the largest social issues in Burlington, the lack of housing. The City of Burlington supports the long-term expansion of new and modern housing throughout our community."
Erik Hoekstra explains, “Redstone’s Pine & Flynn project is our sixth housing based redevelopment in the City of Burlington since 2012, and once completed, we will have created 259 new housing units in the City of Burlington in that time period. Mike Alvanos and I have been working on this project for almost ten years, so we are very excited about this investment in the community and believe that this is going to be another major addition to the ongoing revitalization of the Pine Street Corridor and South End.”
Burlington based Redstone has been a leader in full-service commercial real estate in Vermont since 1992.